New Harbor Capital acquires majority stake in PT Solutions Holdings

  • dec. 2013
  • Healthcare
  • M&A: Buy-Side
  • US

Livingstone is pleased to announce that Chicago-based private equity house, New Harbor Capital has acquired a majority interest in PT Solutions Holdings, LLC, a leading provider of physical therapy services.  Founders Dale Yake (CEO) and Rocky Barnes (President) will retain shareholding in PT Solutions and will maintain their current managerial positions.  Livingstone acted as the exclusive financial advisor to New Harbor.

“New Harbor established an investment thesis in physical therapy and appointed Livingstone to identify a platform for growth and consolidation in the southern states of the US,” said New Harbor Partner Ed Lhee.

Headquartered in Atlanta, Georgia, PT Solutions is a leading outpatient physical therapy provider with a broad geographic footprint across Georgia, Florida, Alabama, Illinois, Kentucky, and Tennessee.  The Company operates from close to 40 locations, including traditional outpatient clinics, satellite outpatient clinics affiliated with hospitals, and management service contracts.

“PT Solutions has a hybrid outpatient physical therapy model that is differentiated within the industry,” said Livingstone Chicago’s Director Ryan Buckley.  “New Harbor, in partnership with the management team, will be able to leverage this unique and scalable platform to build a leader in the southern states of the US.”

New Harbor’s involvement will support PT Solutions management with business-building experience and significant capital to fund the organic and acquisition-led expansion of the Company’s network of physical therapy locations.

“We appreciated the opportunity to work with New Harbor on this important acquisition,” commented Livingstone Chicago’s Partner James Moskal.  “This transaction adds to Livingstone’s long history of successful physical therapy deals for clients including ATI Physical Therapy, GTCR and KRG Capital.”

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